Punjab & Sind Bank, which has elaborate management development programs for its employees to groom them and prepare them for higher responsibilities, has a unique concept of ‘job families’. Elaborating the concept in an interview with Banking Frontiers, the bank’s ED, Dr Fareed Ahmed, says: “We encourage the staff to share their training related needs and concerns directly with the department head for swift resolution. In the ‘job families’ concept, each employee is encouraged to opt to work in the identified job family (such as credit management, risk management, digital banking & analytics, accounts & finance, etc) based on their interest, professional qualifications and specializations. This helps in the creation of talent pools in these areas of specialization. Counseling sessions/ exit interviews are being done to identify the reasons for employee’s resignations/ VRS.”
Fareed Ahmed also emphasizes that performance assessment in the bank is unbiased and transparent. There is focus on positive discrimination based on performance in respect of promotions and postings.
According to him, more than 70% of employees in the bank belong to age group of under 40 years and as such the bank faces a constant challenge in the development and retention of employees. “Although, attrition rate in the bank is almost at par with the industry levels, the bank is taking various steps to bring it down like offering programs for knowledge development and training and re-skilling,” says he.
– Mehul Dani, email@example.com